Lush Meadows Services

10/01/2024

School's back! Stay ahead with our efficient templates! Get the best deals on our templates as listed below:
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1- School fees recording and reconciliation template. https://selar.co/re1y⁣
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2- Automated Score Sheet and Report Sheet Template. ⁣
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3- Automated Payroll and Payslip template (with tax computation) https://selar.co/tn6p⁣
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4- Budget and Expense template (with Petty Cash)⁣
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5- School Inventory Management template
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Click on the links to purchase the template or go to the link in bio.⁣
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PRICE N10,750 for each template.

20/08/2023

Are there other reasons you can add?

08/02/2023

Dear School Administrator,

Do you still keep record of your finances such as school fees collection, expenses, payroll using notebooks? Try these automated templates to make your record keeping easy and convenient.

02/02/2023

MR FRANK'S STORY -Part 2

Just like Mr Frank, many school owners also make the same mistake of equating profitability with the amount of cash inflows that come in through fees paid by students. You need to know that having a lot of payments by students does not guarantee profitability.

Two important components that should be considered before you can be sure your school is profitable is revenue/sales recording and expense tracking. I will discuss revenue recording in this post and talk about expenses in subsequent posts.

To track students fees, the first thing you must ensure is the collection process. Every school must have a collection process that makes fees collection process easy and ensure all money is collected and accounted for.

Processes should be put in place to avoid pilferages. One of the ways to do this is to discourage cash payment. A dedicated account should be in place for the school fees payment. The school can also rely on technology such as direct transfer to school account, payment via portal etc.

The other parts to collections are filling and keeping of source documents, recording and reconciliation of payments. These will be discussed in my next post.

How else do you think pilferages can be checked? Let's learn together.

31/01/2023

30/01/2023

Mr Frank owns a big private school in one of the big cities in the country. He believes that the school has been very profitable. He made this assumption going by the amount of cash flows in the business.

He doesn't keep a separate record of his business earnings. Every income that comes in as school fees and other incomes goes directly into his personal bank account.

He spends directly from the account to run the school business and his family affairs. The head of school spends directly from cash collected as school fees when there is a need to pay for goods and services.

Is there anything this proprietor is not doing right? What do you think?

09/01/2023

Naomi began by narrating the competences she has built over the one year period to her aunt. To manage a school of that size, she (Mrs Jesse) needs to:

1- Build a structure within the school in such a way that not all teachers report to the school head directly. There should be head of units who will in turn report to the HM. The HM finally reports to the proprietor- this will lessen the burden on her.

2- She showed her how the school can leverage on common online tools to manage their affairs. Google documents and forms to send reports and collect information, Google sheet to manage the school data online and Google meet to conduct online class and staff meetings.

3- Also, she demonstrated how the school can employ invoicing softwares such as Zoho Invoice to issue school bills and send online receipts to parents and also track records and reconcile fees payments by the students.

It was indeed an eye opener to Mrs Jesse.

How much of these free online tools do you know and are making use of as a school owner?

Let's have your comments.

06/01/2023

Mrs Jesse was reclining in her office, with her eyes fixed on the ceiling. She probably was not looking at anything. Suddenly, she heard a gentle knock on her door. Who comes in? Naomi ran towards her with great excitement. She was her neicce who just completed her youth service.

Naomi remembered her aunty- Mrs Jesse, once told her about her challenges with managing the school affairs some weeks before then via their telephone conversation and how the problem has affected her wellbeing because she was single-handedly managing the school due to perceived dearth of trusted hands.

With great enthusiasm, she began to explain how she could help her aunt fix the challenges. A panoramic series of images flashed through her my mind. She wondered if she could trust this young and 'inexperienced' lady in getting practical solutions.

What do you think? Do you believe experience plays a major role in determining performance? Does it come into play when you plan to hire?

05/01/2023

Mrs Jesse is a very intelligent school administrator. She has been into the business of managing schools for more than a decade. Very recently, she discovered her health is failing. She has been trying to cope with getting over stress. "What could have been the cause?" She had a deep thought while responding to her physician.

Mrs Jesse manages all her school payment records on her own. " I don't want any of my staff to have a clue to how much I make"- She thought. She keeps a manual record of all payments and does the reconciliation on her own. Every end of the term is always a period of mental and physical torture for her going by the amount of work involved in reconciling her accounts.

What could she have done better?
1- Delegation- Every school owner needs to learn how to apportion work to their staff

2- Control- Checks and special measures should be on place to monitor what each staff does, have access to , and also to prevent them from going beyond what is expected of them.

3- System- A good well-laid out policies should be in place which will define how things should be done in the school.

4- Technology- There are great softwares (ranging from simple to complex ones) that can manage processes such as payment of fees. School owners should embrace them.

03/01/2023

You can add to the list

01/01/2023

The threshing floors will be filled with grain; the vats will overflow with new wine and oil.
Joel 2:24 NIV